The Perceptions of Bank Employees on Performance Target

AbstractPerformance target is one of the tools of performance management used to influence bank employees’ performance in the Nigerian banking sector. Bank managers may have exerted pressure on employees due to recent pressure in Nigeria’s economy, which has a reciprocal effect on Nigeria’s banking sector. The research problem addressed issues related to performance targets, disparity in job satisfaction, and stress-related issues in the workplace. The purpose of this qualitative phenomenological study was to explore the lived experiences of workplace-related stress of permanent bank employees working under the current performance targets in the Nigerian banking sector. The research questions focused on exploring the lived experiences of permanent bank employees working under the current performance targets in the Nigerian banking sector. Qualitative transcendental phenomenology was the most appropriate design for this study. A sample of 15 participants was selected using purposeful sampling. Participants were interviewed by telephone, and data were analyzed thematically. Social exchange theory was used to provide a theoretical lens for the study. The key findings indicated that bank employees suffered excessive stress levels, ineffective communication, low level of manpower, excessive workload and overtime, imbalances in work–life, and job losses. The study may have a social change impact on the bank employees, bank management, regulators, and society at large with regards to the provision of adequate knowledge of the performance target and compensation dynamic in the Nigeria’s banking industry